Britain's Big Six banks staged a dramatic rescue of Bradford & Bingley last night in a bid to avert a new Northern Rock crisis.
Fresh credit fears swept global financial markets on Tuesday, pushing world stocks to their lowest levels since October 2006 as concerns intensified that the financial sector would have to raise more capital.
Hip-hop artist and producer Timbaland has set several concert dates in Australia and New Zealand, Mosley Music Group and Interscope Records said Tuesday.
A pedestrian looks at the closing rate of the stock market in the window of a securities company in central Tokyo on July 7, 2008.
Texas oilman T. Boone Pickens says he'll fund a multimedia advertising campaign to focus the nation's attention on what he calls the single biggest crisis facing the country today: its dependence on foreign ...
By Burton Frierson Reuters Tuesday, July 8, 2008; 11:55 AM NEW YORK - Federal Reserve Chairman Ben Bernanke said on Tuesday the U.S. central bank might keep open a lifeline to financial firms, while the latest ...
A mortgage rescue plan to save hundreds of thousands of homeowners from foreclosure drew overwhelming Senate support, inching toward passage despite Republican objections.
The Senate voted 76-10 Monday to advance the bill, a broad array of housing measures including overhauls of the Federal Housing Administration, the Depression-era mortgage insurer, and government-sponsored home loan giants Fannie Mae and Freddie Mac.
Its centerpiece is a new $300 billion FHA program to allow debt-ridden homeowners who are currently too financially risky to qualify for government-backed loans to refinance into safer, more affordable mortgages.
Jul 7 - U.S. stocks finished lower as a sharp drop in oil prices rocked energy shares and worries about Fannie Mae and Freddie Mac haunted the financials.
NAB economist Jeff Oughton predicts an unemployment rise in the next year. A serious deterioration in business conditions has strengthened expectations of rising unemployment over the next year, but an ...
A Lehman Brothers analyst downgraded the entertainment industry Monday and slashed forecasts for its five major companies, saying digital downloads of movies and TV shows posed a huge threat to profits from DVD sales that the companies rely on.
The stocks of The Walt Disney Co., News Corp., CBS Corp., Time Warner Inc. and Viacom Inc. fell slightly more than the broader market by the close, with CBS falling the most, by 4.7 percent, or 87 cents, to $17.73.
'Shifts from physical to digital will disrupt the marginal economics of the TV and movie businesses, just as it did for music,' analyst Anthony DiClemente said during a conference call.
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